Investing.com - Japanese core machinery orders rose more-than-expected in January, rebounding from the previous month’s steep decline, official data showed on Monday.
In a report, Japan’s Cabinet Office said core machinery orders rose by a seasonally adjusted 3.4% in January, beating expectations for a 2.3% increase.
Japanese core machinery orders fell by an unrevised 7.1% in December.
The data showed that year-on-year, core machinery orders increased at an annualized rate of 5.7%, after rising at a rate of 6.3% in December, surpassing expectations for a 4.4% gain.
Following the release of the data, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.3% to hit 82.22.
Meanwhile, Asian stock markets were broadly lower. Hong Kong's Hang Seng Index declined 0.1%, Australia’s ASX/200 Index dipped 0.35%, while Japan’s Nikkei 225 Index edged down 0.4%.
In a report, Japan’s Cabinet Office said core machinery orders rose by a seasonally adjusted 3.4% in January, beating expectations for a 2.3% increase.
Japanese core machinery orders fell by an unrevised 7.1% in December.
The data showed that year-on-year, core machinery orders increased at an annualized rate of 5.7%, after rising at a rate of 6.3% in December, surpassing expectations for a 4.4% gain.
Following the release of the data, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.3% to hit 82.22.
Meanwhile, Asian stock markets were broadly lower. Hong Kong's Hang Seng Index declined 0.1%, Australia’s ASX/200 Index dipped 0.35%, while Japan’s Nikkei 225 Index edged down 0.4%.